Former U.S. President Bill Clinton didn't have to say much when he delivered the keynote at Ripple's Swell conference in San Francisco. And indeed, he barely said anything relevant to the blockchain industry.
The 42nd commander in chief has long been recognized for his rhetorical prowess, but there was little pressure on him to rouse or inspire the audience at Ripple's event. He was sending a message on Ripple's behalf simply by appearing on stage.
Specifically, the company was saying: Ripple is the kind of company that can book Clinton to speak.
While Clinton and his wife – former U.S. Senator, Secretary of State and 2016 Democratic presidential nominee Hillary Clinton – have given talks at any number of venues over their decades of public service, the "Paid Clinton Speech" became something of a meme in 2016.
During the campaign, critics on the left and right balked at the $22 million Hillary had earned giving speeches to employees of big banks and other establishment boogeymen. The content of these speeches – she refused to release transcripts – became something of a national obsession. To some, they epitomized what was perceived as overly cozy relations between DC and Wall Street.
For a company like Ripple, then, there is powerful subtext in booking a Clinton to speak. To understand why, consider the ambiguity of the company's position.
Schrodinger's Ripple
Ripple is a Schrodinger's cat.
In one outcome, we open the box and a thriving fintech company emerges, one that provides a long-overdue efficiency boost to the financial services sector by introducing new, disruptive technologies: blockchain and digital assets.
In the other outcome, we open the box and Ripple is just another cryptocurrency company looking for a use case: the company sells tens of millions of dollars worth of the cryptocurrency XRP every quarter through a subsidiary, but as of today, just a few firms are making commercial use of the Ripple product that leverages XRP.
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